Exponent Inc (EXPO)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 78.69 | 34.13 | 93.90 | 82.28 | 60.19 | |
| Number of days of payables | days | 4.64 | 10.69 | 3.89 | 4.44 | 6.06 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 78.69
= 4.64
Exponent Inc's number of days of payables has fluctuated over the past five years. As of December 31, 2023, the company reported 4.64 days of payables, indicating that it takes approximately 4.64 days for Exponent Inc to pay its outstanding obligations to suppliers. This represents a significant decrease from the previous year, where the number of days of payables was 10.69 days.
Comparing to the prior years, Exponent Inc's payables turnover has shown variability. In 2021 and 2020, the company reported 3.89 days and 4.44 days of payables, respectively, reflecting a shorter period needed to settle its payables. However, in 2019, the number of days of payables increased to 6.06 days.
The decreasing trend in the number of days of payables from 2022 to 2023 may indicate that Exponent Inc has been managing its accounts payable more efficiently, potentially negotiating better payment terms with suppliers or optimizing its working capital management. However, further analysis of the company's financial performance and cash flow management is required to fully understand the factors driving these changes in payables turnover.
Peer comparison
Dec 31, 2023